Blockstream plans to expand its presence in cryptocurrency mining
According to Blockstream, the company intends to increase its activity in cryptocurrency mining. It has become possible after raising $125 million in borrowed funds.
The innovations to be developed by the company are aimed at investment funds, banks, and other institutional representatives of the crypto-sphere. Kingsway Capital was the most active. Also on the list of investors who have purchased debt instruments, there are other major players, such as Cohen & Company Capital Markets.
Note that before that Blockstream also borrowed $210 million. Representatives of the company state that hosting cryptocurrency mining equipment is regarded as a sustainable business. In this regard, in the long term, Blockstream's strategy involves further work in this direction. Moreover, one of the goals is to achieve a leading position among BTC-miner operators.
Also, part of the amount raised will be used to implement "green" energy sources and create a model of cryptocurrency mining equipment.